Report: Abercrombie to Seek Fresh Backers for China Business
The US-listed company is conducting a review of its Chinese assets and may sell a stake in the unit, which could be valued at several hundred million dollars, Bloomberg reported.
earnings-report
Retail
Target Cuts Forecast as Holiday Pain Spreads to Discounters
Target chief executive officer Brian Cornell said digital sales rose 40 percent in December but that traffic and sales trends at its stores were “disappointing.”
Target Cuts Forecast as Holiday Pain Spreads to Discounters
Target chief executive officer Brian Cornell said digital sales rose 40 percent in December but that traffic and sales trends at its stores were “disappointing.”
Luxury
Burberry Takeover Would Be a Showstopper
Burberry remains one of the few luxury houses unencumbered by a family stake-holder. And it is expected to end its financial year to March with net cash of about £665 million ($819 million).
Burberry Takeover Would Be a Showstopper
Burberry remains one of the few luxury houses unencumbered by a family stake-holder. And it is expected to end its financial year to March with net cash of about £665 million ($819 million).
Luxury
Burberry Gives Fresh Boost to Luxury as Sales Beat Estimates
Third-quarter retail revenue rose 4 percent on a currency-neutral basis, with total sales of £735 million topping the £721 million estimate.
Burberry Gives Fresh Boost to Luxury as Sales Beat Estimates
Third-quarter retail revenue rose 4 percent on a currency-neutral basis, with total sales of £735 million topping the £721 million estimate.
Financial Markets
H&M Monthly Sales Growth 6 Percent, Lagging Forecasts
In November, its growth was roughly unchanged from October at 9 percent, missing expectations for an acceleration on the back of demand for winter clothes.
H&M Monthly Sales Growth 6 Percent, Lagging Forecasts
In November, its growth was roughly unchanged from October at 9 percent, missing expectations for an acceleration on the back of demand for winter clothes.
Financial Markets
Hugo Boss Jumps as Clothier’s Profit Guidance Brings Relief
Full-year operating profit will be nearer 17 percent than 23 percent, a range set by the company in August.
Hugo Boss Jumps as Clothier’s Profit Guidance Brings Relief
Full-year operating profit will be nearer 17 percent than 23 percent, a range set by the company in August.
Luxury
Richemont, Swatch Rally, Bodes Well for Watches
Richemont advanced as much as 9.4 percent to a one-year high after a gain in sales of timepieces at the Cartier maker’s own stores signalled that wholesale orders may stop declining.
Richemont, Swatch Rally, Bodes Well for Watches
Richemont advanced as much as 9.4 percent to a one-year high after a gain in sales of timepieces at the Cartier maker’s own stores signalled that wholesale orders may stop declining.
Luxury
Richemont's Revenue Up 5 Percent with Unexpected Watch Rebound
The company has been struggling with the biggest downturn for the Swiss watch industry since the quartz crisis in the 1980s.
Richemont's Revenue Up 5 Percent with Unexpected Watch Rebound
The company has been struggling with the biggest downturn for the Swiss watch industry since the quartz crisis in the 1980s.
Financial Markets
Finish Line Reports Third-Quarter Loss
The Finish Line Inc. on Wednesday reported a loss of $40.4 million in its fiscal third quarter.
Finish Line Reports Third-Quarter Loss
The Finish Line Inc. on Wednesday reported a loss of $40.4 million in its fiscal third quarter.
Financial Markets
Guess Misses Third Quarter Profit Forecasts
Guess Inc. on Wednesday reported fiscal third-quarter net income of $9.1 million.
Guess Misses Third Quarter Profit Forecasts
Guess Inc. on Wednesday reported fiscal third-quarter net income of $9.1 million.
Financial Markets
Calvin Klein and Tommy Hilfiger Owner PVH tops Third Quarter Forecasts
The owner of the Calvin Klein and Tommy Hilfiger brands posted revenue of $2.24 billion in the period, also beating Wall Street forecasts.
Calvin Klein and Tommy Hilfiger Owner PVH tops Third Quarter Forecasts
The owner of the Calvin Klein and Tommy Hilfiger brands posted revenue of $2.24 billion in the period, also beating Wall Street forecasts.
Financial Markets
Shoe Carnival Posts Third-Quarter Profit
Shoe Carnival Inc. on Monday reported fiscal third-quarter net income of $9.7 million.
Shoe Carnival Posts Third-Quarter Profit
Shoe Carnival Inc. on Monday reported fiscal third-quarter net income of $9.7 million.
Financial Markets
Rocket Internet’s Global Fashion Shrinks Losses on Cost Cuts
The adjusted loss narrowed to €32.3 million ($34.3 million) from €54 million a year earlier.
Rocket Internet’s Global Fashion Shrinks Losses on Cost Cuts
The adjusted loss narrowed to €32.3 million ($34.3 million) from €54 million a year earlier.
The News in Brief
Chanel Sales Up 16% in First Half
Chanel’s sales are accelerating after returning to growth last year, Bloomberg reported citing an unnamed source. Beauty sales rose 8 percent.
P&G to Buy Supplement Maker Thorne for $3.8 Billion
Shailesh Jejurikar, chief executive of the American personal care conglomerate, told CNBC it will acquire the line from LVMH-backed private equity firm L Catterton.
Eli Lilly to Offer Early Access to Next-Gen Obesity Drug to Some Patients
Eli Lilly said on Monday it would allow a limited number of patients to have early access to its experimental obesity drug, retatrutide, before its US FDA approval.
India’s Nykaa Posts Higher Quarterly Profit on Strong Beauty Demand, Fashion Growth
India’s FSN E-Commerce Ventures, which operates beauty and fashion retailer Nykaa, reported a more than three-fold rise in quarterly profit on Tuesday, boosted by strong growth in its beauty business and a sharp acceleration in fashion sales.
Ferragamo Returns to Profit as Relaunch Strategy Advances
The Italian luxury brand swung to a net profit for the first half after growing sales in the second quarter, with turnaround efforts particularly evident in its directly owned shops.
Shein Seeks $30 Billion to $40 Billion Valuation for August IPO, Sources Say
The valuation target marks a dramatic reset for Shein, which plans to launch its IPO as early as mid-August, three people familiar with the matter said.
Zalando Narrows Profit Outlook, Sees Growth at Lower End of Range
The online fashion retailer said 2026 revenue and growth will land in the lower half of its previously guided range and narrowed its adjusted operating profit outlook.